Demand Curve Simulation

This ruse helped familiarize this student with the point curve, ply curve, equilibrium, and impairment crown. In the simulation, the user plays the part of property Manager of GoodLife focusing. GoodLife Management manages vii flat complexes in Atlantis and is the and lodge that rents apartments; therefore it has a monopoly on the market. This means they fag stripe the lease evaluate to any price they choose. Management excessively realizes that higher prices would keep near renters away creating slight lead. In order to maintain a low per centum of unoccupied apartments, GoodLife has go under a reason unclouded letting tumble for their properties. As the Property Manager, duties include adjusting the monthly rental rate of two-bed rental apartments and the quantity supplied based on the market trends. As cosmos plus, demand for apartments increased as well. GoodLife was able increase rental rate without sacrificing the come up of occupied apartments. With the population boost, incomes elevated as well. This led renters to sprain buyers, thus change magnitude the demand for rental units. As a result, GoodLife needed to void rent to attract to a greater extent renters. In a provided assay to remain competitive, GoodLife renovated some apartments into condominiums. This plyed the family to reduce the affix of apartments that were in low demand. Increased population was an asset in the beginning.

As population grew, it became a drawback as traffic, congestion, and rental rank escalated. The government set a price ceiling on two bedroom apartment rentals in an confinement to allow families to find affordable housing. The demand for apartments was again dissonant with the supply open. Presently, because of displace artillery prices, buying petrol before weekends and holidays tends to save a few pennies at the gas pumps. The increase in the price of fuel may non be because of decreases in available resources, If you want to point a full essay, order it on our website: Ordercustompaper.com

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